Gitennes Exploration Settles Debt with Equity

Gitennes Exploration (TSE:GIT) has released an update.

Gitennes Exploration Inc. has announced the issuance of 1,650,000 common shares to settle $82,500 of debt owed to senior officers, aimed at preserving the company’s working capital. This transaction is classified as a related party transaction with exemptions applied due to its proportion to the market capitalization. The shares are subject to a statutory hold period and the settlement awaits regulatory approval.

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